Amarantus Bioscience Holdings Inc (AMBS)

[nof_k]

Concerning the $2.2 Millions they fixed the following Default Conversion Price:

Upon the occurrence and during the continuation of any Event of Default specified in Article IV, the Holder shall have the right to convert any outstanding principal and interest at a Conversion Price of fifty percent (50%) of the lowest daily VWAP for the prior fifteen (15) day trading period prior to the applicable Conversion date.

(VWAP: volume-weighted average price)

As you see, the conversion price could be lower or higher than $0.015 per share